Peter Carlsson, former vice President of Supply Chain Management, officially announced to launch the factory called North Volt in partnership with Paolo Cerruti, former manager supply chain operations. Reportedly, the plan will be financially charged by Swedish investors who will pull around $4 billion in four steps.

The decision probably would be welcomed by the car manufacturers, as their reliance on Asian market might decrease, however, might not please Tesla that was dreaming for a status of sole competitor in the region.

It is also reported that the two and the Swedish investors are looking for an appropriate construction site in the Scandinavia; particularly, Sweden or Finland.

The idea seems to be very sound as both of them are stout professionals who have extensive relevant expertise and confidence on their credits. Their acknowledged services at Tesla and other companies would give the project a strong start up. Carlsson, CEO of North Volt, headed the global sourcing and supply chain, while Cerruti planned supply chain operations. It is believed that the company had already been unofficially launched last year when the two left Tesla.

Tesla had already started work on its Nevada plant in collaboration with Panasonic that is primarily targeted at Model 3. Besides, the idea of such a project for Europe is also in a pipeline that also interested the Swedish government. However, the entry of North Volt, in such a time, is a clear indication of potential tug-of-war in Europe for corporate dominance in the sector.